The owner of two bars in New York decided to sell them in cryptocurrencies to dedicate himself to making cartoons at home.
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This curious story originally published in New York Post It shows how cryptocurrencies are also becoming an alternative for those traditional merchants who, after years of battle in their stores (and severely affected during the COVID-19 pandemic), want a different life.
This is the case of the owner of a couple of bars in the Big Apple, who is retiring and is offering his premises for sale for Bitcoin O Ethereum. If the deal goes through, the outlet says it could be the first cryptocurrency-only restaurant sale in the US.
Last week – precisely when Bitcoin had its best prices-, Patrick Hughes put his premises up for sale Hellcat Annie’s y Scruffy Duffy’s. The price tag said the offer was for 25 bitcoins at 800 ethers for business, a value of approximately USD $ 838,000 according to the current prices of cryptocurrencies (on Friday the 8th the price, with a BTC at USD $ 42,000 would have exceeded one million dollars).
Crypto on fire
“Cryptocurrencies are on fire, it’s a hot currency,” said Hughes, a 56-year-old Queens native who now resides in Ho-Ho-Kus, New Jersey, and whose family has been in the Manhattan bar business since 1970. “It is decentralized. It is global “.
Fueled by mounting debt and fears of a devalued US dollar, Hughes is among countless investors, institutions, and Americans who view cryptocurrency as a legitimate alternative to the dollar.
Selling Hellcat Annie’s and Scruffy Duffy’s It could mark a new chapter in the domain of cryptocurrencies.
“I am not aware of any other bar or restaurant that has been sold only for cryptocurrencies”, said to New York Post Charles Cascarilla, CEO of Paxos Trust Company, which specializes in cryptocurrency infrastructure. “But more and more people see cryptocurrencies as a monetary instrument. We are really at a tipping point for its acceptance. “
Affected by the pandemic
Before the pandemic, Hughes employed 50 people at its two facilities. Now you have “Five or six”But it said it has survived better than many, largely due to being closed for most of 2020.
“I played golf, read books, worked around the house and learned to make cartoons”, said Hughes, who launched a YouTube of Scruffy Duffy to display your animated videos. He hopes to continue the art form once he and his wife, with whom he has three children, move south if the bars sell out.
Reopened Hellcat Annie’s in November, with an outdoor cabana on Tenth Avenue, and said bar sales have almost returned to pre-pandemic levels. Scruffy Duffy’s remains closed pending the return of the indoor dining room. (Hughes and a partner opened Scruffy’s on Eighth Avenue in 1990, then he just moved it to its current location in 2019. He relaunched Annie’s in 2009, after running it as a Pony Bar for eight years.)
Hughes laments the suffering the shutdown caused many of his friends in the industry, but said the crisis solidified his desire to go out of business before the pandemic.
“I hope to catch one of these cryptocurrency guys who always wanted to have a bar,” Hughes said, and noted that it has put up a sign up front to attract curious potential buyers.
Hughes dijo a New York Post you have received some casual inquiries. But trust that you are on the right side of the story.
Source: New York Post
Translation and version of Daily bitcoin
Images of Facebook of Hellcat Annie’s
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